press release date: May 8 , 2008
for quarter ending: March 31, 2008 (1st quarter)
Overview: No analyst conference held. Financials in line with my expectations. Waiting for enough events in the Provenge trial to get the interim data.
Revenue was $31,000.
Net loss was $19.5 million.
EPS loss was $0.23 million.
$99.6 million in cash and equivalents.
Press Release Highlights:
"FDA agreed to amend the IMPACT (IMmunotherapy for Prostate AdenoCarcinoma Treatment) SPA, accelerating the expected timeline for final results from the study by approximately one year while maintaining comparable power to the previous SPA. In addition, the FDA reconfirmed that either a positive interim or final analysis of survival would support licensure and enable Dendreon to amend the Company's biologics license application for PROVENGE."
Neuvenge Phase I study showed it may be beneficial in breast, colorectal, and ovarian cancer.
Stock offering generated $46 million in cash, which should be enough to finish the IMPACT study.
No conference held
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